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Financial Literacy and Mathematics: A Study Among Young Mexican High School Students

Author

Listed:
  • Alejandro Villagómez Amezcua

    (Instituto del Fondo Nacional de la Vivienda para los Trabajadores, Estudios Económicos)

  • José Antonio Hidalgo Everardo

    (Secretaría de Hacienda y Crédito Público)

Abstract

Este trabajo analiza la incidencia de las habilidades matemáticas en el alfabetismo financiero en jóvenes mexicanos entre 15 y 18 años de edad asistiendo a la escuela preparatoria. Utilizamos información de una encuesta construida explícitamente para este objetivo y basada en medidas sugeridas por Lusardi y Mitchell y por la Organización para la Cooperación Económica y el Desarrollo (OECD). Este es el primer estudio de su tipo para jóvenes mexicanos. Nuestros resultados confirman que los niveles de alfabetismo financiero entre estudiantes mexicanos son bajos. Ofrecemos evidencia del impacto significativo y positivo de las habilidades matemáticas en los niveles de alfabetismo financiero. Mediante el uso de un modelo Probit Ordenado encontramos que por cada aumento en una unidad en las respuestas correctas de matemáticas, el nivel de alfabetismo financiero aumenta en 0.12 desviaciones. Intuitivamente, dos respuestas correctas adicionales en matemáticas se traducen en medio punto en el puntaje general de la OECD. Nuestros resultados son robustos a diferentes especificaciones de las variables explicativas y distintas estimaciones. Sin embargo, el análisis puede presentar problemas de endogeneidad debido a la omisión de variables o errores de medición, para lo cual proponemos un método para corregir el problema. El efecto de las habilidades matemáticas se mantiene.

Suggested Citation

  • Alejandro Villagómez Amezcua & José Antonio Hidalgo Everardo, 2017. "Financial Literacy and Mathematics: A Study Among Young Mexican High School Students," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 12(2), pages 1-22, Abril-Jun.
    • Handle: RePEc:imx:journl:v:12:y:2017:i:2:p:1-22
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    File URL: http://www.remef.org.mx/index.php/remef/article/view/88/160
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    References listed on IDEAS

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    Cited by:

    1. Alfredo Cuecuecha Mendoza, 2024. "The effect of remittances on financial literacy in Mexico," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 19(1), pages 1-22, Enero - M.

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    More about this item

    Keywords

    Financial Education; Financial Literacy; Mathematical Skills; High School Students; Financial Knowledge;
    All these keywords.

    JEL classification:

    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • D1 - Microeconomics - - Household Behavior
    • I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid

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